In what constitutes the latest controversial move over Damages-Based Agreements (DBAs) regulation, the Government has ruled out hybrid versions of the agreements after tasking the Civil Justice Council (CJC) with reviewing some ‘technical revisions’.
All or nothing: Only a handful of DBAs entered into as confusion reigns over hybrid model
‘It’s an extraordinary thing – hundreds of lawyers should have entered into Damages-Based Agreements (DBAs) by now.’
So says Leslie Perrin, former managing partner and senior partner of Osborne Clarke who is now chairman of litigation funding group Calnius Capital, with around £40m of capital to invest in litigation.
Instead, DBAs, which came into force under the Legal Aid, Sentencing and Punishment of Offenders Act 2012 and entitle a lawyer to claim a percentage of their client’s damages by way of fees, have failed to take off at all and Perrin adds: ‘The confusion around the regulations has been such that I don’t think more than a handful of DBAs have been entered into all across the country. Continue reading “All or nothing: Only a handful of DBAs entered into as confusion reigns over hybrid model”
Offshore Part 3 – Jewels in the crown
One case has put litigation funding on the map in Jersey, while the Crown Dependencies are each bringing in vital new legislation, meaning fresh streams of work for their legal markets. LB reviews the latest developments
Third-party litigation funders have operated in the UK for some time, but not in the Channel Islands, as the legality and enforceability of funding agreements in Jersey remained untested. This is set to change following a court judgment that could allow islanders access to external funding if they cannot afford to pursue a legal claim.